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Side-by-side financial comparison of ESAB Corp (ESAB) and Installed Building Products, Inc. (IBP). Click either name above to swap in a different company.
Installed Building Products, Inc. is the larger business by last-quarter revenue ($747.5M vs $745.6M, roughly 1.0× ESAB Corp). Installed Building Products, Inc. runs the higher net margin — 10.2% vs 6.6%, a 3.6% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (9.9% vs -0.4%). Over the past eight quarters, ESAB Corp's revenue compounded faster (4.0% CAGR vs 3.9%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
ESAB vs IBP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $745.6M | $747.5M |
| Net Profit | $49.2M | $76.6M |
| Gross Margin | 36.9% | 35.0% |
| Operating Margin | 12.1% | 14.6% |
| Net Margin | 6.6% | 10.2% |
| Revenue YoY | 9.9% | -0.4% |
| Net Profit YoY | -29.3% | 14.5% |
| EPS (diluted) | $0.78 | $2.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $745.6M | — | ||
| Q4 25 | $727.8M | $747.5M | ||
| Q3 25 | $715.6M | $778.2M | ||
| Q2 25 | $678.1M | $760.3M | ||
| Q1 25 | — | $684.8M | ||
| Q4 24 | $670.8M | $750.2M | ||
| Q3 24 | $673.3M | $760.6M | ||
| Q2 24 | $707.1M | $737.6M |
| Q1 26 | $49.2M | — | ||
| Q4 25 | $54.8M | $76.6M | ||
| Q3 25 | $66.9M | $74.4M | ||
| Q2 25 | $67.4M | $69.0M | ||
| Q1 25 | — | $45.4M | ||
| Q4 24 | $53.7M | $66.9M | ||
| Q3 24 | $68.2M | $68.6M | ||
| Q2 24 | $82.9M | $65.2M |
| Q1 26 | 36.9% | — | ||
| Q4 25 | 37.0% | 35.0% | ||
| Q3 25 | 37.2% | 34.0% | ||
| Q2 25 | 37.6% | 34.2% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | 38.5% | 33.6% | ||
| Q3 24 | 37.7% | 33.8% | ||
| Q2 24 | 38.2% | 34.1% |
| Q1 26 | 12.1% | — | ||
| Q4 25 | 14.6% | 14.6% | ||
| Q3 25 | 15.2% | 13.7% | ||
| Q2 25 | 16.2% | 13.3% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | 16.6% | 13.1% | ||
| Q3 24 | 15.7% | 13.3% | ||
| Q2 24 | 16.9% | 12.9% |
| Q1 26 | 6.6% | — | ||
| Q4 25 | 7.5% | 10.2% | ||
| Q3 25 | 9.3% | 9.6% | ||
| Q2 25 | 9.9% | 9.1% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | 8.0% | 8.9% | ||
| Q3 24 | 10.1% | 9.0% | ||
| Q2 24 | 11.7% | 8.8% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.90 | $2.81 | ||
| Q3 25 | $1.09 | $2.74 | ||
| Q2 25 | $1.10 | $2.52 | ||
| Q1 25 | — | $1.64 | ||
| Q4 24 | $0.87 | $2.39 | ||
| Q3 24 | $1.11 | $2.44 | ||
| Q2 24 | $1.35 | $2.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $321.9M |
| Total DebtLower is stronger | $2.0B | $886.6M |
| Stockholders' EquityBook value | $2.2B | $709.9M |
| Total Assets | $5.6B | $2.1B |
| Debt / EquityLower = less leverage | 0.91× | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $218.2M | $321.9M | ||
| Q3 25 | $258.2M | $333.3M | ||
| Q2 25 | $291.3M | $305.2M | ||
| Q1 25 | — | $298.7M | ||
| Q4 24 | $249.4M | $327.6M | ||
| Q3 24 | $253.7M | $406.2M | ||
| Q2 24 | $228.5M | $380.3M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $886.6M | ||
| Q3 25 | $1.1B | $880.8M | ||
| Q2 25 | $1.1B | $876.1M | ||
| Q1 25 | — | $872.4M | ||
| Q4 24 | $1.1B | $874.8M | ||
| Q3 24 | $1.1B | $872.3M | ||
| Q2 24 | $1.1B | $875.8M |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.1B | $709.9M | ||
| Q3 25 | $2.1B | $678.6M | ||
| Q2 25 | $1.9B | $664.5M | ||
| Q1 25 | — | $660.9M | ||
| Q4 24 | $1.8B | $705.3M | ||
| Q3 24 | $1.8B | $716.4M | ||
| Q2 24 | $1.7B | $685.3M |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $4.9B | $2.1B | ||
| Q3 25 | $4.4B | $2.1B | ||
| Q2 25 | $4.2B | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $4.0B | $2.1B | ||
| Q3 24 | $4.1B | $2.1B | ||
| Q2 24 | $4.0B | $2.0B |
| Q1 26 | 0.91× | — | ||
| Q4 25 | 0.63× | 1.25× | ||
| Q3 25 | 0.51× | 1.30× | ||
| Q2 25 | 0.55× | 1.32× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | 0.60× | 1.24× | ||
| Q3 24 | 0.59× | 1.22× | ||
| Q2 24 | 0.63× | 1.28× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $46.9M | $64.9M |
| Free Cash FlowOCF − Capex | — | $49.3M |
| FCF MarginFCF / Revenue | — | 6.6% |
| Capex IntensityCapex / Revenue | — | 2.1% |
| Cash ConversionOCF / Net Profit | 0.95× | 0.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $300.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $46.9M | — | ||
| Q4 25 | $81.5M | $64.9M | ||
| Q3 25 | $46.6M | $124.0M | ||
| Q2 25 | $35.4M | $90.4M | ||
| Q1 25 | — | $92.1M | ||
| Q4 24 | $126.9M | $74.8M | ||
| Q3 24 | $101.0M | $101.4M | ||
| Q2 24 | $83.0M | $79.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | $49.3M | ||
| Q3 25 | $37.4M | $104.8M | ||
| Q2 25 | $28.1M | $74.8M | ||
| Q1 25 | — | $71.9M | ||
| Q4 24 | $102.2M | $52.9M | ||
| Q3 24 | $90.4M | $77.3M | ||
| Q2 24 | $74.0M | $58.2M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 6.6% | ||
| Q3 25 | 5.2% | 13.5% | ||
| Q2 25 | 4.1% | 9.8% | ||
| Q1 25 | — | 10.5% | ||
| Q4 24 | 15.2% | 7.1% | ||
| Q3 24 | 13.4% | 10.2% | ||
| Q2 24 | 10.5% | 7.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 2.1% | ||
| Q3 25 | 1.3% | 2.5% | ||
| Q2 25 | 1.1% | 2.1% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | 3.7% | 2.9% | ||
| Q3 24 | 1.6% | 3.2% | ||
| Q2 24 | 1.3% | 2.8% |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 1.49× | 0.85× | ||
| Q3 25 | 0.70× | 1.67× | ||
| Q2 25 | 0.53× | 1.31× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | 2.36× | 1.12× | ||
| Q3 24 | 1.48× | 1.48× | ||
| Q2 24 | 1.00× | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESAB
Segment breakdown not available.
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
